Core Banking Requires Remanufacturers to Act a Lot Like Regular Banks

October 21, 2022 Matt Pagni

Remanufacturers face the unusual challenge of having to manage customer core eligibility similar to the way banks manage their customer accounts. As customers purchase remanufactured products, and return cores they owe, and sometimes cores they do not owe, accurate records of customers’ current eligibility is absolutely necessary. The flexibility to “bank” cores for when a customer returns cores for which they do not have eligibility provides a convenience for the customer as well as making more cores available to the remanufacturer. 

If a customer places an order for 10 remanufactured units and has five cores in their “bank” account, they would only be charged five core charges as the cores banked would be relieved as part of the transaction.

Core banking can get even more complicated as on occasion, a customer may request that their specific core be remanufactured. Or they may request to have their banked cores returned. If those cores were already remanufactured and sold to another customer, the remanufacturer may need to compensate the customer or source the cores elsewhere.

Unfortunately, ERP systems aren’t designed to handle core banking or other remanufacturing requirements for that matter. Remanufacturers either need to rely on error-prone spreadsheets that are difficult for employees to share, invest in an expensive custom application, or outsource core management to a third party.

An ERP Solution with Core Banking Capabilities—Designed for Remanufacturers

To help solve the core banking challenge, Western Computer offers 365REMAN. The application is embedded into Microsoft Dynamics 365 Business Central, a complete ERP solution, and is tailored for remanufacturers, distributors of remanufactured products, and core suppliers. As a cloud solution, 365REMAN is ideal for companies that need specific remanufacturing functions in their ERP system or are looking to modernize their existing business management system. 

365REMAN eliminates the pain of core tracking while also meeting the needs of standard workflows and day-to-day operations—with specific core tracking capabilities for sales and purchases:

  • Core Tracking
  • Core Charges
  • Flexible Core Terms
  • Core Banking
  • Return Reminders 

365REMAN provides the option to enable core banking for customers and vendors. Your entire team also has real-time access to accurate core eligibility including during the return receiving process. If a customer without core banking enabled returns cores they do not owe, the system will not allow the cores to be received, although an override is available.  

Talk with an ERP for Remanufacturing Expert

If you’re a remanufacturer, distributor of remanufactured products, or a core supplier, Western Computer welcomes the opportunity to tell you more about 365REMAN and how it can help your company operate more efficiently. Contact us today to schedule a call with one of our remanufacturing ERP system experts.

365REMAN is currently available for purchase in Microsoft Commercial Marketplace in both the Essentials and Premium editions of Microsoft Dynamics 365 Business Central. To learn more about 365REMAN, visit www.365Reman.com.

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